05 December 2013

"Black-market transactions are a thing, though. And Bitcoins are more portable than either suitcases full of $100 bills or diamonds. So there's some use there. And even though I think inflation paranoia is dumb, it's certainly a real phenomenon. And anything gold can do Bitcoin can do better. In essence you've combined the smuggling utility of pieces of paper with pictures of Ben Franklin on them with the inflation hedging properties of gold. That's a decent achievement. But it's not going to set the world on fire."